By Arathy Somasekhar

MIDLAND, TEXAS (Reuters) -At the heart of the U.S. shale industry in Texas, oil production is climbing. But you wouldn’t know that if you talked to Mark Waters, who owns a store that sells tools and safety equipment to oil firms.

His small business, Tie Specialties, in Odessa, Texas, saw a 25% drop in oilfield sales over the last four to six months. Shelves are stacked with hand tools like wrenches, augers for digging holes, shovels, and other power tools. Peg boards show off hard hats, gloves, and various colored overalls.

“This is my sixth boom-bust. So I’ve been around it. I’d call it a slowdown, but everybody that I’ve talked to says the future is not very bright for the next couple of years,” said Waters, 65.

U.S. oil output has yet to register the full impact

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